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Finance News Update, what you need to know

The Australian dollar remains above 94 US cents after a batch of weak US economic data weakened the greenback.

At 0630 AEST on Monday, the local currency was trading at 94.23 US cents, down from 94.36 cents on Friday.

And the Australian share market looks set to open higher following gains on Wall Street in a quiet day of trading in its last session with strong earnings from Nike helping to offset a profit warning from DuPont.

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At 0645 AEST on Monday, the September share price index futures contract was up eight points at 5,424.

ELSEWHERE:

BERLIN - Germany wants to promote structural economic, financial market and tax reform when it takes over the presidency of the G7 club of rich nations next week, German media reports.

BERLIN - The European Central Bank sees no acute danger of deflation but expects inflation to stay low for some time, executive board member Yves Mersch says.

WASHINGTON - Moody's has cut Russia's credit rating outlook to "negative", a sign of a possible coming downgrade, citing the threat to the Russian economy from its involvement in the Ukraine conflict.

PARIS - French Economy Minister Arnaud Montebourg says a US penalty on BNP Paribas bank for sanctions busting, due to be announced on Monday, should be "fair and proportionate".

DETROIT - US compensation expert Kenneth Feinberg will announce on Monday the terms for payouts to victims of crashes caused by bad ignition switches on General Motors vehicles.

TOKYO - Honda's first business jet has logged its maiden flight ahead of its expected certification and delivery next year.

WASHINGTON - A US startup firm that allows subscribers to watch broadcast television over the internet has suspended its service, three days after losing a Supreme Court ruling.